OTSKF - Akebia amends license agreement with Vifor for potential launch of kidney drug
Akebia Therapeutics (AKBA -0.8%) amended a license agreement with Vifor Pharma < > for the former's vadadustat, a potential treatment for anemia due to chronic kidney disease. Under the earlier agreement, Vifor (OTCPK:GNHAF) received an exclusive license to sell vadadustat to Fresenius Medical Care North America. With the new terms, Vifor (OTCPK:GNHAF) agreed to an additional equity purchase of $20M. Vifor (OTCPK:GNHAF) will also contribute $40M for working capital to partially fund Akebia's costs of manufacturing vadadustat to support commercialization in the U.S. Also, Vifor (OTCPK:GNHAY) will accelerate payment of the previously agreed upon $25M milestone to Akebia. Akebia will retain approximately 66% of the profit. Akebia will profit share with Otsuka pursuant to the license and collaboration agreement between Akebia (AKBA -0.8%) and Otsuka (OTCPK:OTSKF) in the U.S. Vadadustat has an FDA action date of March 29. Check out Akebia's (AKBA -0.8%) Q3 2021 earnings results.
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Akebia amends license agreement with Vifor for potential launch of kidney drug